Receipt Scanning applications for automating expense reporting and other accounting processes with Optical Character Recognition (OCR).
Simple Software has several solutions for capturing transactional data from receipts with OCR and integrating with your accounting software, drastically reducing the cost of expense report processing.
Simple Software has three categories of automated receipt processing software depending on the volume and type of receipts being processed, the available technical resources at your company, and the data entry requirements of your accounting software.
The first category provides affordable expense automation for small businesses. These are designed to quickly capture basic transactional data, like Vendor, Quantaties, Date and Total, using simple pattern matching. Our SimpleIndex receipt processing software gives you the easiest and most affordable solution available.
The second category uses artificial intelligence and machine learning models to extract data from a wide variety of expense documents with minimal setup and training required.
The ABBYY Vantage data capture platform is an example of this type of receipt automation software. Cloud OCR APIs like Google Vision and Amazon Textract also use the ML strategy for expenses. SimpleIndex Cloud OCR provides an out-of-the-box receipt automation solution using Textract that requires no custom coding.
The third category combines pre-trained machine learning models with highly customizable data capture software platforms that let you design solutions that fully automate the most complex expense data entry processes. These applications have the ability to add and train custom receipt fields, capture complex line item data, and use scripts to automatically correct and normalize data to match your ERP system’s requirements. ABBYY FlexiCapture, IRIS Xtract, and Grooper are examples of this third software category.